Nifty closes below 15,700; metal and energy stocks plunge
Bajaj Finance, Bajaj Finserv, and Tata Motors emerged as the top gainers while Tata Steel, ONGC & NTPC were the top losers.
Market update at 3.30 PM: Indices witnessed profit booking towards the end of the session ahead of the key US Fed event. Nifty slipped a quarter per cent to close just below the 15,700-support level while Sensex lost 152 points. Nifty Midcap and Nifty Smallcap closed higher by 0.35 per cent & 0.60 per cent, respectively.
Auto and financials traded higher while metal & energy stocks witnessed profit booking. Bajaj Finance, Bajaj Finserv, and Tata Motors emerged as the top gainers while Tata Steel, ONGC & NTPC were the top losers.
Nifty closed on a weak note but all eyes would be on the US Fed event tonight. The index is likely to be strongly volatile on Thursday.
Market update at 11.35 AM: Indices have been trading flat amid volatility. Nifty is down by 10 points whereas Nifty Midcap and Nifty Smallcap are higher by 0.48 per cent & 0.69 per cent, respectively
Auto stocks have been rallying higher. Meanwhile, pharma and financials also support the market. FMCG and metals are marginally down.
Bajaj Finserv, Tata Motors, and Hero MotoCorp are the top gainers amongst Nifty stocks while Tata Steel, HDFC & BPCL are weak today.
The advance-decline ratio stands at 1,244:631, meaning that two stocks are advancing for every one stock that’s declining, Thus, overall, the market breadth is positive.
Market update at 9.30 AM: Indices are trading flat amid volatility. Nifty is down by 20 points while the mid-cap and small-cap indices are marginally higher.
Media, auto, and IT stocks are higher at the beginning of the session while metals witnessed profit booking. Meanwhile, India VIX is up by 0.32 per cent.
Pre-market update: Last night, the US markets closed mixed ahead of Fed policy outcome. Nasdaq closed marginally higher by 0.18 per cent while Dow Jones lost about 151 points.
With this, the Asian markets have opened mixed and SGX Nifty indicates a flat opening.
India's WPI inflation, which stands at 15.88 per cent for the month of May, is at its 30-year high.
In the last trading session, the FIIs have sold to the tune of Rs 4,502 crore while the DIIs bought about Rs 3,807 crore worth of equity.
Nifty is expected to open flat while the level of 15,700 is the immediate support for the index.
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